increased price target $0.54, page-13

keygeo.
I believe this stock is still very much "speculative". SEH management have been promising pilot production for 4 years and it continues to be delayed without any reasons given. We actually have little to no information yet about what progress has been made with pilot production plans and building the infrastructure required. Secondly, I'm a little confused why SEH/MIE have prepared and submitted the CRR for Linxing East with that PSC having very minimal exploration so far. Minimal seismic, few wells drilled, most likely low flow rates in that region - doesn't make sense to me. Is it because SEH/MIE management are using Linxing East CRR as a trial run/scapegoat to see what really is required to get a CRR approved or was it the easiest/cheapest/quickest to prepare because there is relatively limited data in that PSC?
Doesn't make sense especially as in the most recent investor presentation SEH management indicate that further seismic is required before CRR's can be prepared and submitted for the other PSC's.